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Barometer: Businesspersons predict a stagnation of the Romanian economy this year

 

 

The Romanian economy will stagnate this year, in which concerns regarding the uncertainties associated with macro-economic conditions will be in the foreground, show the conclusions of the 5th edition of the Moneycorp Barometer on the state of the Romanian economy.

According to the research, 32% of the surveyed managers expect economic stagnation in 2023, while another 28% see marginal economic growth. An identical percentage, 28%, is of those who see a slight recession this year, while 12% of executives are pessimistic, betting on a severe economic recession in 2023.

According to the survey, which engaged 1102 companies from various fields, such as IT&C, insurance, equipment, raw materials, energy, FMGC or tourism, 2023 is the year of caution.

After two years of COVID and a year of record inflation, many companies are entering the new year much better prepared to face the challenges, according to the research. These have also adapted to the context generated by the war in Ukraine, a conflict that most (60%) believe will last beyond 2023. Perhaps the best evidence is that 68% of companies intend to hire in this year, underlines the cited source.

According to the results of the barometer, 44% of those questioned face an increased duration of bill collection, while 48% consider that it remained at the same level as in 2021.

According to the managers questioned by Moneycorp, inflation will continue to be one of the major problems of the economy, a fact that will directly influence financing costs.

Thus, 40% of those surveyed expect inflation of 10-12% at the end of 2023, while 28% see inflation above this level. Another 32% of respondents anticipate an inflation level between 6-10%. Most executives (40%) expect Romania to get rid of this major problem only starting from the first semester of 2024.

Most (48%) of the executives questioned in the "Barometer on the state of the economy" expect the euro to be quoted at 4.95-5.00 RON at the end of the year, 24% see a depreciation of the EUR/RON exchange rate between 5.00 RON and 5.05 RON, and 16% above this level.

Asked which currency they trust more, 44% indicated the European currency, 24% the American dollar and 20% the Romanian RON.

The profile of the respondents was represented by middle and top management, with higher education, 63% men and 37% women, with an average age of 47 years.

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Thursday, March 23, 2023